Jun 1, 2018

Unemployment down to 3.8% after U.S. beats jobs expectations

The U.S. added 223,000 jobs in May, up from 164,000 jobs added in April and 135,000 in March. The unemployment rate edged down to 3.8% from 3.9% in April.

Economists on Wall Street estimated that the economy added 190,000 jobs last month, and that the unemployment rate would remain unchanged at 3.9%.

Data: Bureau of Labor Statistics; Chart: Axios Visuals

Analysis:

  • University of Michigan professor Justin Wolfers tweets: "The economy keeps on keeping on. A 9-year recovery continues, and it's now in a pretty good place."

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Unemployment fell to 50-year low in 2019 but wages stagnated

Data: U.S. Bureau of Labor Statistics; Chart: Axios Visuals

Friday's jobs report missed expectations, but still delivered solid numbers, showing the U.S. economy added well over 100,000 jobs and the unemployment rate remained near a 50-year low.

The big picture: BLS reported that the number of people who were employed part time but would rather be full-time employees declined by 507,000 over the year.

Growing divide between the two Americas

Illustration: Aïda Amer/Axios

Life in the U.S. is increasingly divided into two realities — one in which things have almost never been better and another in which it's hard to imagine them being worse.

Driving the news: Bankruptcies led more companies to announce job cuts last year than at any time in more than a decade, WSJ's Aisha Al-Muslim reports (subscription), citing data from outplacement firm Challenger, Gray and Christmas.

Go deeperArrowJan 3, 2020

Women outpace men on U.S. payrolls

Data: Bureau of Labor Statistics; Note: Men count was derived by subtracting women count from total; Chart: Andrew Witherspoon/Axios

There are more women on American payrolls than men as of the latest U.S. jobs report.

Why it matters: The data reflects a hiring boom in industries that are female-dominated, while sectors that are more likely to employ men are lagging in job gains. The last time women overtook men in payrolls was “during a stretch between June 2009 and April 2010,” according to the Wall Street Journal, which first reported the milestone.

Go deeperArrowJan 10, 2020